The ledger of American Company has the following work in process account. ...
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Accounting
The ledger of American Company has the following work in process account.
Work in ProcessPainting
5/1
Balance
3,690
5/31
Transferred out
?
5/31
Materials
7,010
5/31
Labor
4,900
5/31
Overhead
1,680
5/31
Balance
?
Production records show that there were 400 units in the beginning inventory, 30% complete, 1,700 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,440 and conversion costs of $1,250. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
(a)
Incorrect answer iconYour answer is incorrect.
How many units are in process at May 31?
Work in process, May 31
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